Shiba Inu Faces Renewed Selling Pressure After Death Cross Formation

Shiba Inu's recent price action has been marked by a decline in momentum, with the cryptocurrency facing renewed selling pressure after a death cross formation on the 2-hour chart.

The death cross signals that short-term momentum has weakened against the broader trend, and technical traders often treat this pattern as confirmation that sellers dominate the market. This setup is formed when the 200-period simple moving average crosses above the 50-period average, indicating a shift in market sentiment.

Shiba Inu's price had already started falling before the crossover appeared, which some analysts argue reduces the predictive value of the signal. However, the cryptocurrency now trades below key moving averages, reinforcing a negative structure and making upward moves more challenging.